Quadplex with Office-Configured
For Sale
Under Contract
$1,365,000
1845 Summer Street, Stamford, CT 06905
MULTI_FAMILY - Stamford, CT
Property Size3,924 SF
Lot Size0.10 Acres
Price / SF$347.86
Days on Market242
Property Features for 1845 Summer Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CL
Bedrooms
9
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 5, Basement, Bedroom 4, Bathroom 2, Bedroom 8, Bathroom 4, Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 6, Bedroom 9, Bathroom 1, Bathroom 5, Bathroom 3, Bedroom 3
Basement
Full, Unfinished
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS Friendly
Standard status
Active Under Contract
Size
3,924 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10239
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Architectural style
Other
Listing Agency:
Realty ONE Group Connect
(203) 590-1111
Listed By:
Monica Osorio · License #RES.0788735
(203) 943-8831
Added: Dec 13, 2025
Changed: Aug 6
Last Checked: Aug 12 at 8:06AM
MLS# 24126987
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This corner-lot quadplex offers four total units in a mixed-use configuration. Three units are residential and income-producing, and one unit is currently configured and used as office space. The property was built in 1910 and sits on a 0.1-acre lot, totaling 3,924 square feet.
Located at 1845 Summer Street, the building is positioned for visibility and easy access in a high-visibility Stamford setting. Summer Street frontage supports signage and accessibility for both residential tenants and office users, with proximity to shopping and public transit.
A major capital improvement has already been completed: the roof was replaced this year. With public water and public sewer service, the building’s systems are supported for efficient long-term operation.
Located at 1845 Summer Street, the building is positioned for visibility and easy access in a high-visibility Stamford setting. Summer Street frontage supports signage and accessibility for both residential tenants and office users, with proximity to shopping and public transit.
A major capital improvement has already been completed: the roof was replaced this year. With public water and public sewer service, the building’s systems are supported for efficient long-term operation.
Key Highlights
- Four total units: three residential income units plus one office‑configured unit
- Corner‑lot building on Summer Street for enhanced visibility and accessibility
- Roof replaced this year
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,507
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,510,140
$1.5M
Cap Rate 7%
$1,078,671
$1.1M
Cap Rate 9%
$838,967
$839.0K
Market Conditions
NOI Build-Up for 3,924 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$115.4K $29.40/SF
− Vacancy
−$7.5K −$1.91/SF
EGI
$107.9K $27.49/SF
− OpEx
−$32.4K −$8.25/SF
NOI
$75.5K $19.24/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,510,140
Cap Rate 7%
$1,078,671
Cap Rate 9%
$838,967
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$943.8K – $1.26M
NOI $75,507 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$964.8K
$844.2K – $1.13M
NOI $67,534 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,317 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
3,063
Businesses Nearby
Explore this area
Business Placement
Demographics for 06905, CT
21,809
Population
8,726
Households
2.5
Avg Household Size
39
Median Age
62%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
4,276
Density / Sq Mi
$132,730
Median Household Income
$70,273
Median Earnings
$2,330
Median Rent
$608,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Corner-lot quadplex with three residential income units and one office-configured unit, plus public water and sewer.
Where is this quadplex located?
The property is located at 1845 Summer Street Stamford, CT.
What is the asking price?
The asking price for this property is $1,365,000.
What are key features of this property?
This property features: Four total units: three residential income units plus one office‑configured unit; Corner‑lot building on Summer Street for enhanced visibility and accessibility; Roof replaced this year
